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China looks for energy cooperation with Central Asian economies

Other News Materials 19 May 2023 07:13 (UTC +04:00)
China looks for energy cooperation with Central Asian economies

BAKU, Azerbaijan, May 19. China is prepared to align its development strategies with Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan - the five Central Asian nations - and work collaboratively to advance the modernization of all six countries, China's President Xi Jinping said, while addressing the participants of the China-Central Asia Summit, Trend reports.

As China's official sources say, President Xi noted China's readiness to help Central Asian countries improve their law enforcement, security, and defense capability construction.

President Xi stated that China plans to enhance bilateral investment agreements with Central Asian countries and increase cross-border freight volume in a comprehensive manner. Beijing intends to support Chinese-funded enterprises in Central Asia to generate more local employment opportunities, establish overseas warehouses in the region, and introduce a dedicated train service to promote cultural tourism between China and Central Asia.

Trade between China and Central Asia reached a record-breaking $70 billion last year, with Kazakhstan leading the way at $31 billion. This reflects China's efforts to establish deeper economic ties in its pursuit of enhanced food and energy security.

President Xi emphasized the need to expedite the construction of Line D of the China-Central Asia natural gas pipeline. Furthermore, he called for expanded oil and gas trade, the development of energy cooperation across various industrial chains, and strengthened collaboration in new energy and the peaceful utilization of nuclear energy between China and Central Asia.

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